Tyler Technologies (NYSE:TYL) had its price objective cut by investment analysts at Robert W. Baird from $260.00 to $250.00 in a research report issued to clients and investors on Friday. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s target price indicates a potential upside of 28.27% from the stock’s previous close.
A number of other research firms also recently weighed in on TYL. Zacks Investment Research raised shares of Tyler Technologies from a “hold” rating to a “buy” rating and set a $267.00 price target on the stock in a research note on Tuesday, July 24th. KeyCorp reaffirmed a “hold” rating on shares of Tyler Technologies in a research note on Friday. JMP Securities cut their price target on shares of Tyler Technologies from $250.00 to $245.00 and set a “market outperform” rating on the stock in a research note on Thursday. Finally, B. Riley increased their price target on shares of Tyler Technologies from $200.00 to $206.00 and gave the stock a “neutral” rating in a research note on Monday, July 30th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Tyler Technologies currently has an average rating of “Buy” and a consensus price target of $233.36.
NYSE:TYL traded down $0.10 during trading hours on Friday, reaching $194.90. 406,039 shares of the company were exchanged, compared to its average volume of 202,916. The company has a market cap of $8.05 billion, a P/E ratio of 61.29, a P/E/G ratio of 5.49 and a beta of 0.82. Tyler Technologies has a 52-week low of $168.12 and a 52-week high of $252.47.
Tyler Technologies (NYSE:TYL) last posted its quarterly earnings results on Wednesday, October 31st. The technology company reported $1.23 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.23. The company had revenue of $236.10 million for the quarter, compared to the consensus estimate of $240.98 million. Tyler Technologies had a net margin of 19.91% and a return on equity of 11.70%. Tyler Technologies’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 earnings per share. As a group, research analysts anticipate that Tyler Technologies will post 3.79 earnings per share for the current year.
In other news, Director Brenda A. Cline sold 4,000 shares of the stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $250.39, for a total value of $1,001,560.00. Following the completion of the sale, the director now owns 5,000 shares of the company’s stock, valued at $1,251,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John S. Marr, Jr. sold 30,460 shares of the stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $244.50, for a total transaction of $7,447,470.00. The disclosure for this sale can be found here. Insiders sold 133,397 shares of company stock valued at $32,234,944 in the last three months. Company insiders own 4.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in shares of Tyler Technologies by 5.9% in the second quarter. Rhumbline Advisers now owns 83,699 shares of the technology company’s stock worth $18,590,000 after acquiring an additional 4,648 shares in the last quarter. Federated Investors Inc. PA grew its holdings in Tyler Technologies by 3.8% during the 2nd quarter. Federated Investors Inc. PA now owns 469,342 shares of the technology company’s stock valued at $104,241,000 after purchasing an additional 17,026 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in Tyler Technologies during the 2nd quarter valued at $477,000. Zacks Investment Management grew its holdings in Tyler Technologies by 5.7% during the 2nd quarter. Zacks Investment Management now owns 4,877 shares of the technology company’s stock valued at $1,083,000 after purchasing an additional 261 shares in the last quarter. Finally, Ashford Capital Management Inc. grew its holdings in Tyler Technologies by 32.4% during the 2nd quarter. Ashford Capital Management Inc. now owns 68,998 shares of the technology company’s stock valued at $15,324,000 after purchasing an additional 16,900 shares in the last quarter. 91.71% of the stock is owned by institutional investors.
About Tyler Technologies
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector in the United States and internationally. It operates through two segments, Enterprise Software, and Appraisal and Tax. The company's financial management solutions include modular fund accounting systems for government agencies or not-for-profit entities; and utility billing systems for the billing and collection of metered and non-metered services.
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